Reference exchange rate down on October 1

Illustrative image (Source: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate on October 1 to 22,713 VND/USD, down 1 VND from the rate on the last day of previous week (September 28). With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,394 VND/USD and the floor rate 22,031 VND/USD. The opening hour rates at commercial banks also went down compared to September 28. Vietcombank reduced both rates by 15 VND, listing the buying rate at 23,290 VND/USD and the selling rate at 23,370 VND/USD. BIDV slashed both rates by 20 VND, listing the buying rate at 23,290 VND/USD and the selling rate at 23,370 VND/USD. Meanwhile, Techcombank cut the buying rate by 15 VND to 23,270 VND/USD and the selling rate by 20 VND to 23,370 VND/USD. Last week (September 24-28), the reference exchange rate opened the week down 3 VND from the rate on the last day of previous week (September 21) to 22,709 VND/USD. It was adjusted up on the next two days before down again on the last two days of the week, ending the week at 22,714 VND/USD. The rates at commercial banks were mostly on the rising trend during the week, with the increases taping off towards the end of the week. -VNA